188 Visa Closed: What Investors Do Instead in 2026

The subclass 188 Business Innovation and Investment visa closed to new applicants on 31 July 2024. This covers what that means for existing holders transitioning to the 888, and the current alternatives — the National Innovation Visa (subclass 858), points-tested skilled visas, and employer-sponsored routes. Figures as at September 2026.

Read the full guide, with official sources →

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Chapters

  1. 0:00 The subclass 188 visa
  2. 0:14 Business Innovation, Investor,
  3. 0:29 Already hold a 188?
  4. 0:42 888 transition:
  5. 0:57 Plus two of three:
  6. 1:09 Investor streams:
  7. 1:19 Subclass 858
  8. 1:34 Subclass 858 income threshold:
  9. 1:46 Other 2026 routes:
  10. 2:02 No reopening has been
  11. 2:14 Where to read more

Transcript

If you're researching the subclass 188 to invest your way into Australia, here's the one thing to know first: it closed to new applicants on 31 July 2024.

All five streams closed that day — Business Innovation, Investor, Significant Investor, Premium Investor, and Entrepreneur. No new applications, expressions of interest, or state nominations are being accepted.

If you already held a 188 visa before that date, nothing changes for you — your visa stays valid, and the 888 permanent visa pathway remains open under your stream's original rules.

For the Business Innovation stream, transitioning to the 888 generally means holding the 188 for at least 2 years, running the business for 2 years, turnover of at least $300,000 a year, and net assets of at least $200,000.

There's also two of three extra benchmarks: combined net assets of $600,000, at least 2 full-time equivalent employees, or keeping an ownership stake in the business.

The Investor and Significant Investor streams work differently — you need the full 4-year period, holding the designated or complying investment the whole time.

For new business migration, the closest current equivalent is the National Innovation Visa, subclass 858. It replaced the Global Talent visa on 6 December 2024, and needs an expression of interest through SkillSelect.

The 858 needs an income threshold of about $183,100 a year, and it's a direct permanent visa — there's no provisional stage like the 188 had.

Beyond the 858, business owners can also look at the points-tested subclass 189, 190 or 491, or an employer-sponsored subclass 482 or 186, plus the regional subclass 494.

None of these are direct equivalents of the closed 188's investor-only streams, and the Government hasn't announced a reopening — treat that as speculative, not something to plan a move around.

The full guide, with the official sources, is on migratio.com.au. The link is in the description. And if you'd like to talk it through, you can compare registered migration agents there, and see their fees before you book anything.

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